Polyurethane Elastomers Market Trends

  • Report ID: 2842
  • Published Date: Oct 10, 2024
  • Report Format: PDF, PPT

Polyurethane Elastomers Market Trends

Growth Drivers

  • Increasing Demand for Conveyors Belts - Polyurethane elastomers are the most suitable material to make conveyor belts. Moreover, polyurethane adhesives are usually used to seal the ends of conveyor belts and can be utilized in even the most delicate food applications without any problems. Therefore, higher demand for conveyor belts in bottling manufacturing, mining, agriculture, food, and industries is estimated to propel the market growth over the forecast period.
  • Growing Demand in Medical Devices- The high strength and simplicity of processing polyurethane elastomers make them the material of choice for innumerable medical devices. Polyurethanes elastomers are used in medicine since they are compatible with the human body and are also employed in medical devices such as surgical instruments.

Challenges

  • Health Hazards of Polyurethane Elastomers - To give shape to end-use products manufactured from polyurethane elastomers, the hot wire cutting method is used. During this process, vapors from the hot wire cutting can be irritating and hence in acute conditions, result in coughing. The emitted vapor is also known to contain trace amounts of toluene diisocyanate (TDI) or diphenylmethane diisocyanate (MDI), which is harmful to human health. In chronic conditions, studies showed that inhalation or overexposure to clouds of dust may cause inflammation of the lungs, fibrosis, and airway obstruction. Such factors are anticipated to hamper the growth of the global polyurethane elastomers market.
  • Poor Weatherability and Thermal Capability
  • Flammable and Utilizes Toxic Isocyanates

Polyurethane Elastomers Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~3%

Base Year Market Size (2022)

~ USD 2 Billion

Forecast Year Market Size (2035)

~ USD 20 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Base Year

2024

Forecast Year

2025-2037

CAGR

3.4%

Base Year Market Size (2024)

USD 2.16 billion

Forecast Year Market Size (2037)

USD 3.27 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Author Credits:  Rajrani Baghel


  • Report ID: 2842
  • Published Date: Oct 10, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of polyurethane elastomers is assessed at USD 2.22 billion.

The polyurethane elastomers market size was over USD 2.16 billion in 2024 and is poised to reach USD 3.27 billion by the end of 2037, witnessing around 3.4% CAGR during the forecast period i.e., between 2025-2037. Rising demand for polyurethane elastomers in mining and the growing requirement for polyurethane elastomers in the automotive industry will boost the market growth.

Asia Pacific is predicted to account for the largest share of over 32% by 2037, impelled by increase in spending on consumer goods in the region.

The major players in the market include BASF SE, Dow Chemical Company, Tosoh Corporation, Argonics, Inc., LANXESS AG, Herikon, Huntsman International LLC., Trelleborg AB, Lubrizol Corporation, Covestro AG.
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